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VILLAGE OF NILES REAL ESTATE TRANSFER TAX Stamp # and Date Check Appropriate Box(es) Recorder or Registrar's Deed No. ( ) Residential ( ) Commercial ( ) Multi-Unit, No. of Units ( ) Declaration (.

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In Chicago, both buyers and sellers must pay a transfer tax. In addition to the municipal transfer tax, each county in Illinois assesses a transfer tax at the rate of 50 cents per thousand dollars of the sale price.

Real Estate Transfer Tax Procedure Effective June 1, 1993, the Village of Niles tax on the transfer of real estate property is $3 per one thousand dollars or fraction thereof and is to be paid by the buyer. Real estate contracts dated after June 1, 1993 are subject to the tax.

In general, The Buyer is responsible for $3.75 and the Seller is responsible for $1.50. Exemptions, Deductions and Credits: The exemptions allowed are: Transfers of real property acquired by or from a governmental body and certain transfers by or from certain non-profit organizations.

In Illinois, the seller is usually charged for the transfer tax, which is taken out of the seller's proceeds at closing.

It is paid by the seller, unless other arrangements have been made by contract. Revenue from this tax goes into the City's General Fund.

There are two parts to the Chicago real estate transfer tax: the seller's bill and the buyer's bill. The buyer has a tax rate of $3.75 per $500 of the transfer price, while the seller has a tax rate of $1.50 per $500 of the transfer price.

The current real estate transfer tax rate is 0.3%, which is $3 per thousand. This tax is levied against the buyer of real property within the Village, and is calculated using the sales price of the real property.

In Chicago, both buyers and sellers must pay a transfer tax. In addition to the municipal transfer tax, each county in Illinois assesses a transfer tax at the rate of 50 cents per thousand dollars of the sale price.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232